CJ Logistics sells 733.8 billion KRW stake in Chinese subsidiary CJ Lokin

[Asia Economy Reporter Dongwoo Lee] CJ Logistics announced on the 25th that it will sell its entire 73.1% stake in its Chinese subsidiary CJ Rokin to the private equity fund 'Fountainvest Partners.'

In 2015, CJ Logistics jointly invested with Stick Investment's KOPAFund, Stick CJ Global Investment Partnership Fund, and Stick Global Investment No.1 Private Equity Fund to establish a special purpose company for acquiring CJ Rokin called ‘CJ ROKIN LOGISTICS HOLDINGS LIMITED,’ through which it holds a 73.1% stake in CJ Rokin.

CJ Logistics plans to continuously strengthen its business in China even after selling its stake in CJ Rokin.

The sale of CJ Rokin shares is part of an efficient reallocation of resources considering changes in the business environment. CJ Logistics will continue to strengthen its global business utilizing its global network, including logistics operations in the relatively high-growth Chinese market through its existing Chinese subsidiaries.

CJ Rokin was established in 1997 and is headquartered in Shanghai, China, operating comprehensive logistics businesses such as cold chain, chemical products, general cargo, and e-commerce logistics.

A CJ Logistics official stated, “We are striving to become a global leading logistics company through qualitative growth by selection and concentration and discovering future new growth engines. We will continue to strengthen logistics operations in the high-growth Chinese market.”

This content was produced with the assistance of AI translation services.